Optimum Communications (NYSE:OPTU) Lowered to Hold Rating by Benchmark

Benchmark cut shares of Optimum Communications (NYSE:OPTU) from a buy rating to a hold rating in a report published on Tuesday morning, MarketBeat reports.

A number of other equities analysts have also recently issued reports on the company. Evercore set a $2.50 target price on Optimum Communications in a report on Friday, November 7th. Citigroup decreased their price objective on Optimum Communications from $3.25 to $2.75 and set a “buy” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optimum Communications in a report on Wednesday, January 21st. Zacks Research lowered shares of Optimum Communications from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Finally, Barclays lowered their target price on shares of Optimum Communications from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $2.55.

Optimum Communications Stock Down 1.5%

NYSE OPTU opened at $1.62 on Tuesday. The company has a market capitalization of $758.78 million, a P/E ratio of -0.41 and a beta of 1.51. The firm has a 50-day moving average price of $1.76 and a two-hundred day moving average price of $2.09. Optimum Communications has a 12-month low of $1.52 and a 12-month high of $3.20.

Hedge Funds Weigh In On Optimum Communications

A number of hedge funds have recently made changes to their positions in OPTU. Swiss Life Asset Management Ltd purchased a new stake in shares of Optimum Communications during the 3rd quarter worth approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Optimum Communications during the third quarter worth $27,000. May Hill Capital LLC purchased a new position in Optimum Communications in the 2nd quarter worth about $29,000. Voleon Capital Management LP bought a new stake in shares of Optimum Communications during the third quarter valued at approximately $31,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of Optimum Communications in the 4th quarter worth $38,000. Institutional investors own 54.85% of the company’s stock.

About Optimum Communications

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five million residential and business customers. The company’s video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.